27,300 Shares in Skechers U.S.A., Inc. (NYSE:SKX) Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 27,300 shares of the textile maker’s stock, valued at approximately $1,836,000.

Other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Skechers U.S.A. by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,316,882 shares of the textile maker’s stock valued at $88,126,000 after purchasing an additional 17,429 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of Skechers U.S.A. in the third quarter worth $67,000. Cynosure Group LLC increased its position in shares of Skechers U.S.A. by 11.0% during the third quarter. Cynosure Group LLC now owns 5,744 shares of the textile maker’s stock worth $384,000 after acquiring an additional 568 shares during the period. Bridgewater Associates LP raised its stake in shares of Skechers U.S.A. by 39.9% in the third quarter. Bridgewater Associates LP now owns 4,166 shares of the textile maker’s stock valued at $279,000 after acquiring an additional 1,188 shares in the last quarter. Finally, Glenmede Trust Co. NA boosted its holdings in Skechers U.S.A. by 3.0% in the third quarter. Glenmede Trust Co. NA now owns 144,971 shares of the textile maker’s stock valued at $9,701,000 after purchasing an additional 4,265 shares during the period. 79.96% of the stock is owned by institutional investors and hedge funds.

Skechers U.S.A. Stock Up 0.8 %

SKX opened at $57.79 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97. Skechers U.S.A., Inc. has a one year low of $53.79 and a one year high of $78.85. The business’s 50-day simple moving average is $64.54 and its 200-day simple moving average is $65.27. The stock has a market capitalization of $8.63 billion, a P/E ratio of 13.93, a price-to-earnings-growth ratio of 1.11 and a beta of 1.21.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings data on Thursday, February 6th. The textile maker reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.08). Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. Analysts anticipate that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Wall Street Analysts Forecast Growth

SKX has been the topic of several recent research reports. Stifel Nicolaus cut their price target on Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Needham & Company LLC restated a “hold” rating on shares of Skechers U.S.A. in a research note on Friday, February 7th. StockNews.com downgraded shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Barclays dropped their price objective on shares of Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Finally, Evercore ISI lifted their price objective on shares of Skechers U.S.A. from $72.00 to $85.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $80.42.

Insider Activity at Skechers U.S.A.

In other news, President Michael Greenberg sold 10,274 shares of the stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total transaction of $693,289.52. Following the completion of the transaction, the president now directly owns 149,327 shares of the company’s stock, valued at approximately $10,076,585.96. This represents a 6.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Phillip Paccione sold 10,994 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $56.63, for a total value of $622,590.22. Following the completion of the sale, the general counsel now directly owns 15,000 shares of the company’s stock, valued at approximately $849,450. This trade represents a 42.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 236,738 shares of company stock worth $14,700,809 in the last three months. Insiders own 24.75% of the company’s stock.

Skechers U.S.A. Company Profile

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children worldwide. The company operates through Wholesale and Direct-to-Consumer segments. It offers footwear under Skechers Hands Free Slip-ins, Skechers Arch Fit, and Skechers Air-Cooled Memory Foam brands.